Crypto exchange Coinbase has partnered with real-time cross-border payments firm Nium to bring stablecoin payments to its 190-plus country network. The goal is to replace the slow and costly SWIFT-based traditional banking services, which can take days to complete. The transactions can be made in stablecoins and paid out in local fiat currencies. Coinbase brings wallet infrastructure, stablecoin liquidity, custody, and on-ramps to Nium, as well as handling regulatory compliance. The system will use Circle’s USDC stablecoins. USDC is the second-largest stablecoin issuer, with almost $78 billion in circulation. So far the partnership is aimed at providing business and banking customers with real-time payment capabilities, freeing them from the need…
Blockchain and Cryptocurrency: People, Culture and Tech